Replies to post #162678 on Andiamo Corp. (ANDI)

[janice shell]

I am "well aware". There are no "new regulations" of any kind.

The only thing that's actually known is that the judge in SEC v Alpine Securities granted the SEC's motion for partial summary judgement:

https://cases.justia.com/federal/district-courts/new-york/nysdce/1:2017cv04179/475411/101/0.pdf?ts=1522491380

The case is not over yet, but when it is, probably Alpine will be fined, and told to be sure to file accurate and complete SARs going forward.

For several years, clearing firms have become tougher and tougher about clearing pennies. Many won't touch them unless they're Pink Current Info. They understand that's just an OTCMarkets tier, but still, it means some information about the company is available. And both the clearing firms and brokers have been requiring ever more comprehensive disclosure packages from the shareholders wanting to convert notes to stock.

And all that has given rise to the increase in 3(a)(10) actions, because in them, at least a judge says it's okay to issue free trading stock.

Word is that Alpine has decided not to clear any sub-penny stock. If that's true, probably we'll be seeing a good number of reverse splits in the next six months or so.